Crystal Cathedral files for bankruptcy amid mounting debts [Updated]

[ensho]

http://latimesblogs.latimes.com/lanow/2010/10/crystal-cathedral-files-for-bankruptcy-amid-mounting-debts.html


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The move came as the Garden Grove church was struggling to pay its bills. “Budgets could not be cut fast enough to keep up with the unprecedented rapid decline in revenue due to the recession,” Senior Pastor Sheila Schuller Coleman said in a statement released by the church.

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The church, founded by the Rev. Robert H. Schuller more than 50 years ago, lost members in the wake of a family feud after he retired. His son, the Rev. Robert A. Schuller, succeeded his father, but stepped down in 2008 after disagreements. His sister, is now the church's leader.

As of January, officials said church's revenue sank 27% from roughly $30 million in 2008 to $22 million in 2009.

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"Challenging situations are nothing new to our 55-year Ministry," Coleman said in the statement. "Many people said we’d fail when we started our church in a drive-in theater. But look how successful that was! Many said we'd fail in 1970 when we made the commitment to televise our first worship service in Los Angeles and then New York … but look how far we've come! In 1977, countless persons predicted that our plans to build a 2,800-seat all-glass church in earthquake-prone Southern California would never get off the ground, but we have made history. We've always believed in a big God … a God Who is greater than any problem or challenge we could ever face."

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snake oil is getting harder to sell

[Initech]

1. You know the economy sucks when even god has a hard time staying in business.